26 June 2013

Sealord Halves Global Monthly Close Process with Tagetik

Second largest seafood company in New Zealand in terms of catch with global operations reaching over 60 markets in 30 currencies produces its global consolidated results in half the time

Tagetik, a global provider of enterprise software solutions for Performance Management, Disclosure Management, Financial Governance and Business Intelligence, today announced that Sealord – a global New Zealand-based enterprise operating worldwide with the marketing, fishing and processing of sustainable seafood – has gone live with Tagetik’s Performance Management solution on top of Microsoft technology. The software has replaced the existing ERP consolidation toolset and spreadsheet-based consolidation reporting with a single unified consolidation system for both management and statutory accounting.

“Sealord has grown from its local fishing heritage into a world presence for sustainable seafood. As we have become a global player our business has become more complex, and our financial skills requirements have increased. Tagetik now enables Sealord to close our books in half the time by simplifying and accelerating our business management processes,” says Stephen Anderson, Group Financial Controller at Sealord.

“Consolidation within our ERP system has traditionally been a time consuming exercise. We were looking for a powerful management consolidation toolset that was easy to use and integrates into our Microsoft architecture. Tagetik met the needs for us, and is a cornerstone investment as we look forward to extending its capabilities into other areas such as forecasting and planning as we grow our business,” adds Neville Richardson, IS Manager at Sealord.

“Tagetik’s purpose built consolidation application has enabled Sealord to streamline their monthly close process and report the results of each individual company and business unit directly from one unified Tagetik consolidation model operating on Microsoft’s SQL Server 2012 database platform,” explains Harry Child, Client Manager at Tagetik New Zealand. “Sealord now produces monthly consolidated statements in accordance with IFRS standards in local GAAP Accounting as well as reporting to theprimary shareholders, both in New Zealand and in Japan, in half the time.”

“We are delighted to welcome Sealord to our community as the furthest customer geographically,” concludes Manuel Vellutini – Executive Vice President, Chief Operating Officer at Tagetik. “By cutting their monthly close process in half, Tagetik has enabled Sealord to focus on increased business analysis and pro-active engagement with their stakeholders, building stronger business outcomes for the group.”

About SealordSealord’s international net spans seven continents. Each year we deliver over $500 millionworth of seafood to people in more than 60 countries around the World. We employ 1,200 people throughout New Zealand and more than 400 people around the world.Established in 1961, Sealord is half owned by the Maori people of New Zealand, and half owned by leading Japanese fishing company Nissui. The people of Sealord consider ourselvesguardians of our seas and marine life. We proactively support New Zealand’s world-class quota management system. This means Kiwis and people around the world can enjoy New Zealand seafood today safe in the knowledge it’s a sustainable resource that is being protected forfuture generations. For more about our business visit www.sealord.com, hear about our business from our people at YouTube channel Sealord Story, or join the conversation on ourFacebook page